Overall numbers continue to look unimpressive, yet consistent.

Our Weekly Traffic & Sales Watch reported a slight week-to-week decrease in overall new home net sales as the cancellation rate increased slightly from the prior week.  Despite the lackluster totals compared to the past couple of years, many industry professionals are trying to stress to buyers that, despite the higher interest rates, the current environment is actually better for them than it was 6-months ago.  They cite things like decreased competition, more available inventory, base price decreases (in some cases), and increased builder incentives as a few of the reasons why.  The chart this week shows the average number of net sales per subdivision per week over the past two years.    

We reported one new community again this week, Heritage at Black Mountain Ranch from Lennar.  This is their third product line within the Black Mountain Ranch community in Henderson and joins the similarly titled communities in Summerlin and Cadence adding to Lennar's Active Adult (55+) offerings in the valley (along with the Terra Bella condo project in Anthem).

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